Novated Leases

About Novated Leases

A novated lease is a particular type of finance lease used by individuals for the specific purpose of purchasing a new or used vehicle. Similar to a car lease, a novated lease involves obtaining finance for a new or used vehicle in return for regular repayments over a fixed period of time. The difference is that your employer agrees to make the payments out of your pre-tax salary.

Therefore a novated lease is a three way agreement - between you, the employee, the finance company and your employer. The employer must commit to making the lease repayments whilst you are employed by them, although if you cease employment, the vehicle ownership as well as the finance commitments remain with you.

Novated leasing has become increasingly popular in recent years as companies move away from traditional company cars and look for more incentives for employees.

Benefits of Novated Leases

• Greater flexibility with the choice of a car
• Financing of the vehicle may be paid with pre-tax dollars
• Option to own the vehicle at the end of the novated lease term
• The vehicle may be leased for 100% private use
• Time and costs associated with management and disposal of the vehicle are not the employer's responsibility
• On termination of the employees employment or novated lease, the responsibility of the vehicle is passed on to the employee shows commitment by the employee to his/her employer

Applying for a Novated Lease

Applying for a novated lease with Fincar is easy. We do all the hard work for you - can assist with selection of the right product for your requirements, prepare the all paperwork and submit it to the appropriate lender. As a broker we are not limited to any particular finance company - we can shop around for the lowest interest rate, help you avoid 'hidden' fees and charges and most of all prepare the paperwork with the minimum of fuss and maximum of professionalism.

For more information or to request a free, no obligation novated lease quotation, click here or call 1300 346 227 and speak with one of our expert finance consultants.

NEW!! - Try our fantastic Novated Lease Calculator